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ANAVEX contracts FORENAP Pharma for pre-clinical trials of ANAVEX 2-73 in Alzheimer’s disease

Geneva, Switzerland September 30, 2009 – Anavex Life Sciences Corp., (“ANAVEX” or the “Company”) (“ANAVEX”) (OTCBB: AVXL) has selected FORENAP Pharma EURL (“FORENAP”) as the contract research organization (CRO) for pre-clinical trials of ANAVEX 2-73, the company’s lead Alzheimer’s drug candidate. FORENAP has been involved in pre-clinical and clinical research for 20 years and is renowned for its expertise in Central Nervous System (CNS) studies, including Alzheimer’s disease.

“The selection of a world-class CRO is an important milestone in our product development process and it underscores our commitment to advance ANAVEX 2-73 through Phase I clinical trials,” said Dr. Herve de Kergrohen, CEO of ANAVEX. “We are moving forward based on the positive discovery results, which demonstrated the compound’s significant disease-modifying potential and its powerful anti-amnesic and neuroprotective properties.”

All work will be performed under individual work orders that fall under a master services agreement executed by FORENAP and ANAVEX including pre-clinical development of ANAVEX 2-73.

“We are pleased to be partnering with ANAVEX for pre-clinical trials of its Alzheimer’s disease lead drug candidate,” said Dr. Remy Luthringer, CEO of FORENAP Pharma. “There is a critical need for drugs that can modify the course of devastating CNS disorders such as Alzheimer’s disease.”

ANAVEX 2-73, a sigma-1 receptor agonist, has been shown to be neuroprotective and anti-amnesic. It is postulated that ANAVEX 2-73 impacts mitochondrial dysfunction, which is thought by many researchers to be one of the hallmarks of Alzheimer’s disease, and may be mitochondrial protective. This innovative approach focuses on addressing an underlying cause of Alzheimer’s disease, unlike current drugs on the market that provide only symptomatic relief. Based on recent data, sigma receptors are implicated in oxidative stress, through modulation of calcium signaling via the mitochondria.

About FORENAP Pharma

FORENAP Pharma (www.forenap.com) is an international Contract Research Organisation (CRO) and Site Management Organisation (SMO) specialised in early drug development and research in Neurosciences. Since 1986, FORENAP has been active in the pre-clinical and clinical development of new pharmaceutical compounds providing full range of in-services. FORENAP’s structure and network enable to carry out a “full service package” (from pre-clinical to Phase IV) and offer consultancy services from drug discovery to marketing authorisation. Phase I studies in all therapeutic areas are performed in a 72 highly monitored bed equipped centre, which is specifically dedicated to CRO activities. Moreover, FORENAP owns a unique Technological platform combined with in-house technological expertise for investigating CNS active compounds. Part of FORENAP’s know-how is to achieve proof-of-concept studies, i.e. in parallel to safety and PK measurements, to evidence pharmacodynamic effects as soon as pre-clinical and early clinical development. In addition, FORENAP carries out Phase II/III and IV studies mainly in patient suffering from depression, anxiety, sleep disorders, schizophrenia, epilepsy or Alzheimer’s disease.